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Politics : View from the Center and Left

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To: Katelew who wrote (149508)	11/11/2010 10:01:22 AM
From: JohnM	Read Replies (3) of 541724

Kate, I'm well aware of the manifold aggregate inflation statistics. But, back to Little Joe, who argued that inflation existed because he found grocery prices higher. Just a terrible way to reason and/or persuade others. It is the classic example of solipsism, in which one universalizes ones own experience. And it is particularly egregious when faced with aggregate statistics which show otherwise. As for multiple inflation measures, I'm well aware there are statistics which do include food and those which don't and those which only include food and others. Krugman and others have been working those halls for some time. Steve posted a note yesterday that argued, with data, that food et al was inflating. I've read other commentators since then who argued that it's not, with data. The only consistent comment/data I've seen in all of it is that wholesale prices are increasing but retailers are finding it hard to pass those costs along to consumers. As for Palin being correct, she's simply echoing what some adviser wrote for her and it's only one data point in a myriad of others, and it's picked to buttress an anti Obama argument. She cares not a whit about inflation; only about her public persona.

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